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08 Feb 2010 | 16:47 |
Markets had initially witnessed a weak opening
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The main indices began the week with a flat close. The markets had initially witnessed a weak opening that saw the Nifty testing the 4675 levels. But a smart recovery in the afternoon saw the main indices wiping out their losses and closing with nominal gains.
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While the BSE Sensex finally closed 19.96pts or 0.13% higher at 15,935.61, the Nifty gained 3.15pts or 0.07% to close at 4760.40. Broad market indices ended marginally lower as the BSE Mid Cap and Small Cap indices shed 0.09% and 0.08% respectively. Market breadth was negative as the A/D ratio was 0.92:1 on the BSE. NSE cash turnover was Rs.12,962crs. Vs. Rs.1,823.8crs. on Saturday.
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Most of the sectoral indices ended higher. The top gainers were the BSE Capital Goods, Bankex and Realty indices. The top losers were the BSE Metal, Auto and Healthcare indices. The top gainers from the BSE 30 were Bharti, RCom, ONGC and HUL. The top losers were Tata Steel, Hindalco, Wipro and JP Associates.
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With the markets bouncing back smartly from the lows, it seems that the bulls are not willing to give up easily. Traders will now need to watch if the Nifty can convincingly cross the 4800-4825 resistances in the next few sessions. Else, we could see the markets sliding lower once again.
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